Raymond Arjmond Acquires Palm Valley Pavilions West Shopping Center In Goodyear For $59M
1446 North Litchfield Road
$59,000,000
$253/SF
Building Size
232,797 SF
Asset Type
Retail
Closing
Dec 21, 2023
About this deal
AI
The Palm Valley Pavilions West shopping center in Goodyear, AZ has been sold for $59 million. This transaction stands out as one of the highest-priced retail sales in the Valley in 2023. The property is located at 1446 North Litchfield Road and spans across 29 acres. It offers a total of 232,797 square feet of retail space. The price per square foot was calculated to be $253.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $59,000,000
- Address: 1446 North Litchfield Road
- Market: Goodyear, AZ
- Acres: 29
- Square Feet: 232,797
- Price per Square Foot: $253
The buyer of Palm Valley Pavilions West is Raymond Arjmond, while the seller is David Luski from DRA Advisors. This sale represents a significant deal in the retail sector, with Raymond Arjmond acquiring this prime retail property from David Luski's company.
It's worth noting that this transaction highlights the strong demand and value of retail properties in the Goodyear market.
Players
Goodyear Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93